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HiQ HELPS ZENUITY TO DEVELOP AUTONOMOUS VEHICLES

HiQ has been chosen to assist Zenuity AB in developing and optimising software for its driver-assistance and autonomous driving systems. Zenuity has signed a strategic framework agreement with HiQ. “Zenuity is a tremendously exciting new player in the automotive industry. It is a company that shares HiQ’s enthusiasm for taking a leading role in pioneering technological development”, says Jerker Lindstén, Managing Director of HiQ Gothenburg.

Under the terms of the framework agreement, which runs until further notice, HiQ is responsible for all procurement relating to software development and IT.

“As a Nordic leader in the field of software development, we are justifiably proud to have been selected from among a large number of potential suppliers. We are looking forward to contributing our far-reaching competence and extensive experience in software development and vehicle technology to develop Zenuity’s business and make life simpler, both for the company’s co-workers and its end customers”, says Jerker Lindstén, Managing Director of HiQ Gothenburg.

Zenuity is a newly started company with roots in two globally recognised names from the automotive cluster in the west of Sweden. Volvo Car Group and Autoliv are each contributing expert knowledge and patents to the enterprise. Autoliv provides expertise in on-board components such as cameras and radar systems, while Volvo Cars has a track record of excellence in integrating solutions into vehicle design.

Jerker Lindstén
Jerker Lindstén Managing Director HiQ Gothenburg +46 76 880 06 00
Erik Ridman
Erik Ridman Head of Communications HiQ +46 70-750 80 60 +46 8-588 90 000

HiQ accelerates development in Blekinge, Martin Krona appointed new MD

Martin Krona is the new MD of HiQ Karlskrona and takes over responsibility for HiQ’s operations in Blekinge. Klas Nyström takes on the role of executive board chairman with responsibility for regional development.

“The change is part of the investments HiQ is making in Blekinge. Klas will be able to work more strategically and Martin will contribute great enthusiasm, new skills and lots of energy on the operational side. Together we will mould HiQ in Blekinge into the best company for everyone: clients, employees and partners,” said Lars Stugemo, President and CEO of HiQ.

Increased profit and strong cash flow for HiQ

Net sales for the first third quarters of the year are SEK 1 355.8 million. Operating profit for the same period is SEK 164.4 million. During the third quarter of the year, sales is SEK 390.2 (395.0) million, operating profit increases with 7.5 % to SEK 43.1 (40.1) million and operating margin increases to 11.0% (10.1%). Cash flow for the first three quarters of the year amounts to SEK 183.0 million and liquid assets total SEK 150.5 million. During the second quarter, as announced earlier, we divested our holding in Westend Affärscentrum Oy, which is our former office space in Finland. The divestment generated a profit of SEK 22.8 million.
“During the third quarter, the profit, margin and cash flow are growing, during a seasonally weak quarter with lots of holidays and little time available. In comparison with the three first quarters previous year, we increase revenue, net profit, margin and cash flow”, says Lars Stugemo, President and CEO of HiQ.

Invitation to the presentation of HiQ’s interim report at 9.00 a.m. on 24 October

HiQ‘s interim report for January-September 2019 will be presented at 9.00 a.m. on Thursday 24 October at HiQ’s 7th floor office at Katarinavägen 15 in Stockholm.
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